Oil prices plunged to their lowest level in weeks and stocks rallied on Friday after President Trump called off plans for another day of strikes on Iran, saying that a peace deal could come as soon as this weekend.
The gains in global stock markets followed a strong rally on Wall Street on Thursday, as investors were hopeful of a deal and awaited SpaceX’s I.P.O., which shot up 20 percent from its I.P.O. price on its first day of trading.
On Thursday, Mr. Trump had threatened a third straight day of strikes on Iran before canceling the operation later in the day, saying that an agreement was close. That was followed on Friday with both sides in the negotiation confirming that they were close to signing a deal.
